The Department of Administrative Services has secured a notable economic mind in Carl Riccadonna, who was named the new state chief economist by Berri Leslie, the director of DAS and state COO. In a move that will surely impact state economic strategy, Riccadonna brings two decades of global financial experience to the table. His resume includes high-profile stints at Deutsche Bank, Bloomberg L.P., and BNP Paribas. He holds a Bachelor of Science in Engineering from Princeton University, with a focus on Mechanical/Aerospace Engineering, finance, and economics.
Having his teams consistently ranked among the top economic forecasters, Riccadonna has built a career on his ability to not only parse but also clearly communicate intricate economic data and trends. His transition from the private sector to a public role offers a new avenue for him to apply his craft and expertise. According to the Oregon Department of Administrative Services, Riccadonna's talent for making complex economic analysis engaging for those not versed in the lingo is a hallmark of his career.
Carl's move to the Pacific Northwest from New York City is not merely a change of scenery but also reflects a shift in focus from global markets to state fiscal landscapes. When the announcement was made, Leslie praised the new hire, asserting, "I am so happy to welcome Carl to Oregon state government in this critical role." She also added, "Economic forecasts are critical to the work that we do and having someone with Carl’s expertise and background will benefit people all across the state." Riccadonna's expertise in areas such as monetary policy, labor market dynamics, and inflation forecasting is expected to make a tangible difference in how the state’s economic health is managed and projected, as noted by the Oregon Department of Administrative Services.
Outside the grind of economic analytics, Riccadonna is also described as an enthusiastic gardener, a soccer aficionado, and a father of three. This personal snippet offers a glimpse into the man behind the forecasts, one that Oregon officials hope will embody a comprehensive approach to serve up economic policies and predictions. With Carl now firmly planted in Oregon soil, the hope is to cultivate a financial future as rich and as fruitful as his personal passions. His role, underscored by decades of experience, is to accurately read and to anticipate the economic winds that shape the sails of state fiscal policy.
